• Skip to content
  • Go to main navigation
  • Go to language selector
  • About us
    • Manifesto
    • What We Look For
    • Business Model
    • Our Largest Shareholders
    • Meet Our Entrepreneurs
    • Meet Our Chairman
    • History
  • Team
    • The Kinnevik Team
    • Meet Our Team
    • Career
    • Diversity & Inclusion
    • LUMA
      • Meet our LUMA
        • #36 Elin Ashrafi
        • #35 Johan Bäckman Berg
    • Contact
  • Portfolio
    • Our Companies
    • What We Look For
    • Investments & Divestments
    • Previous Investments
    • Mega Trends
  • Sustainability
    • Sustainability Targets
    • Active Ownership
    • Climate Impact
    • Diversity, Equity and Inclusion
    • Corporate Governance
    • D&I Toolkit
    • Stakeholder dialogue
    • Climate Progress Report
    • TCFD
    • Sustainability Report
    • Key Policies
    • Whistleblower Policy
    • Contact
  • Investor Relations
    • Financial Reports
      • Highlights Q1 2023
    • Capital Markets Events
      • 2021
      • 2019
    • Presentations
    • Zalando Distribution
    • Investment Case
    • The Share
      • Total Return
      • Dividend
      • Share Price Calculator
      • Share Capital
      • Ownership Structure
      • Analysts
      • Insiders (PDMRs)
      • Shareholders' personal data
    • Net Asset Value
    • Financial Targets
    • Financial Key Ratios
    • Financial Risks
    • Funding
    • Glossary
    • Tax Information
      • Archive
    • Calendar
    • Subscribe
    • Contact
  • Governance
    • Board of Directors
      • Board Work
      • Board Meeting Attendance
      • Contact the Board
      • Archive
    • Board Committees
      • Audit & Sustainability Committee
      • People & Remuneration Committee
      • Archive
    • General Meetings
      • Archive
    • Articles of Association
    • Nomination Committee
      • Instruction for the Nomination Committee
      • Archive
    • Internal Control
    • Auditors
    • Remuneration
      • Guidelines
        • Archive
      • Remuneration Report
        • Archive
      • Variable Compensation
      • Long-Term Incentive Programs
    • Corporate Governance Report
  • Newsroom
    • Press Releases
    • Stories
    • Image Gallery
    • Video gallery
    • Subscribe
    • Social Media
    • Media Contact
    • Contact
  • EN
  • sv
Group 11Created with Sketch. Group 11Created with Sketch.
  • EN
  • sv
Group 11Created with Sketch.
Freetext
  • Home
  • Newsroom
  • Press Releases
  • Interim Report 1 January - 30 June 2019

Kinnevik: Interim Report 1 January - 30 June 2019

19 Jul 2019, 8:00 AM · Regulatory information

”It was an eventful second quarter, during which we focused our efforts on continuing the shift in our portfolio towards growth companies. These efforts included supporting high-performers in our private portfolio, evaluating our Millicom stake and supporting the IPO of Global Fashion Group.”

Georgi Ganev, CEO of Kinnevik

KEY PORTFOLIO DEVELOPMENTS

  • Global Fashion Group began trading on the Frankfurt Stock Exchange on 2 July. The company raised a total of c. EUR 200m, of which EUR 60m from Kinnevik, to fuel continued growth
  • Livongo announced its intention to go public at a proposed price range corresponding to a fully diluted pre-money valuation of USD 2.1-2.4bn. Kinnevik has agreed to purchase additional shares at the IPO price from one of Livongo’s investors, and we have also indicated our interest in purchasing newly issued shares in the IPO

INVESTMENT MANAGEMENT ACTIVITIES

  • Total investments of SEK 1,367m during the quarter, whereof SEK 632m in GFG, SEK 336m in Kolonial, SEK 156m in Monese, SEK 85m in Pleo and SEK 157m in other existing assets
  • During the quarter Kinnevik announced an intention to divest and distribute the shareholding in Millicom. While the two-step divestment could not be concluded at terms we found agreeable, Kinnevik remains firmly committed to continuing to strengthen our financial position and evolve the portfolio towards a higher proportion of growth companies. Consequently, we continue to evaluate potential next steps in relation to our shareholding in Millicom

FINANCIAL POSITION

  • Net asset value of SEK 89.0bn (SEK 323 per share), up SEK 4.7bn or 6% during the quarter, primarily driven by positive share price development in Zalando and Tele2, furthered by upwards revisions of the fair values of both Livongo and Babylon, partially offset by the decline in value of Global Fashion Group
  • Net debt position increased by SEK 1.7bn to SEK 5.7bn, resulting in leverage of 6.0% of Portfolio Value

A conference call will be held today, 19 July 2019, at 10.00 CET to present the results.

The presentation will be held in English and also be made available via audiocast on Kinnevik’s website, www.kinnevik.com.

Link to the audiocast: https://edge.media-server.com/m6/p/wyhqdzwo

Those who wish to participate in the conference call are welcome to dial-in on the below numbers. To ensure that you are connected to the conference call, please dial in and register your attendance a few minutes before the conference call begins.

Dial-in numbers:
UK: +44 3333000804
SE: +46 856642651
US: +1 6319131422

Confirmation code: 73808843#

This information is information that Kinnevik AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out below, at 08.00 CET on 19 July 2019.

For further information, visit www.kinnevik.com or contact:

Torun Litzén, Director Corporate Communications

Phone +46 (0)70 762 00 50
Email press@kinnevik.com

Kinnevik is an industry focused investment company with an entrepreneurial spirit. Our purpose is to build digital businesses that provide more and better choice. We do this by working in partnership with talented founders and management teams to create, develop and invest in fast growing businesses in developed and emerging markets. We believe in delivering both shareholder and social value by building companies that contribute positively to society. Kinnevik was founded in 1936 by the Stenbeck, Klingspor and von Horn families. Kinnevik's shares are listed on Nasdaq Stockholm's list for large cap companies under the ticker codes KINV A and KINV B.

Attachment

  • :Interim Report 1 January - 30 June 2019
  • :Interim Report 1 January - 30 June 2019
Share this page

ABOUT US
TEAM
INVESTMENTS
INVESTORS
GOVERNANCE
NEWSROOM
CONTACT
PRIVACY & COOKIES

Kinnevik uses cookies

to make the website work in a good way. Cookies are used, among other things, to save your settings, analyze how you surf and adapt content to suit you and certain cookies come from companies we work with. You can change your consent at any time on the Personal data & Cookies page.